PIN

A newsletter for communities, investors, angels, and founders

Author

Power in Numbers
January 17, 2025

Welcome to PIN’d - our weekly newsletter where we pin (lol, bear with us) the most important tech/startup news of the week for aspiring angels, vc’s, startup investors, founders, etc. Expect a new weekly roundup from us every Friday morning!

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📰 This week’s best news

a16z and Eli Lilly have launched a $500M Biotech Ecosystem Venture Fund to invest in cutting-edge healthcare and biotech innovation. The fund will back startups at all stages, leveraging a16z's expertise in scaling companies and Lilly's resources in drug development, aiming to transform patient care and accelerate breakthroughs in medicine.

OpenAI on Monday laid out its vision for artificial intelligence development in the U.S., saying the country needs outside investment and supportive regulation to stay ahead of China in the race for the nascent technology.

Klarna partnered with Stripe to expand its "buy now, pay later" services to merchants in 26 countries, enhancing its reach ahead of a highly anticipated U.S. IPO. The deal boosts Klarna's merchant base and provides Stripe with a share of transaction revenues, benefiting both fintech giants.

Forecast Digest: IPO, M&A and venture markets expected to gain in 2025

The startup ecosystem enters 2025 with optimism as venture funding rebounds and IPO markets are set to regain momentum after a sluggish 2024. Experts anticipate a surge in startup acquisitions and IPOs, driven by a more favorable regulatory environment and growing investor confidence, particularly in AI and Web3 sectors.

Intel is spinning off its venture arm, Intel Capital, into an independent fund by late 2025 to gain more flexibility and attract outside investors. Intel will stay involved as a key backer, while the fund continues supporting tech startups. This move comes as the company faces financial struggles and leadership changes.

Jeff Horing’s Insight Partners is to New York venture capital what Andreessen Horowitz and Sequoia are to Silicon Valley. And it’s a status that has been cemented with Insight’s latest closing. As expected, Insight Partners announced Thursday that it closed another giant flagship fund, known as Fund XIII, along with its second Opportunity fund, collectively $12.5 billion in new capital.

Bench, the accounting startup that imploded over the holidays, filed for bankruptcy in Canada on January 7 revealing massive debts. The filings — one for Bench and another for 10Sheet, Bench’s original name — show that Bench had $2.8 million in cash on hand by the end of its life but $65.4 million in liabilities.

💰 Funding announcement highlights

LemFi, a startup providing international payment services primarily targeting immigrants, raised a $53 million Series B. The round was led by Highland Europe, with Endeavor Catalyst as well as previous investors Left Lane Capital, Palm Drive Capital, and Y Combinator also contributing.

Qventus, a startup using AI to automate administrative tasks for hospital staff, raised an $85 million Series D equity round. KKR led the deal, with contribution from previous investor Bessemer Venture Partners.

Tune Therapeutics, a startup that develops treatments for conditions such as hepatitis B that adjust gene activity without altering DNA sequences, raised a $175 million Series B round. NEA, Yosemite, Regeneron Ventures, and Hevolution Foundation were part of the investors.

Clear Labs, a company leveraging next-generation sequencing to deliver genomic testing for applications such as clinical diagnostics and food safety, raised a $30 million Series D. Counterpoint Global, Felicis, GV, HBM Genomics, Khosla Ventures, Menlo Ventures, Nimble Ventures, Redmile Group, Wing Venture Capital, and T. Rowe Price were part of the round.

Overland AI, a startup developing autonomous driving technology tailored for off-road environments, primarily serving defense sector clients such as the U.S. Army and the Marine Corps, raised a $32 million Series A round. The deal was led by 8VC, with Point72 Ventures, Overmatch Ventures, Shasta Ventures, Ascend, Osage University Partners, and Caprock also joining.

 📚 Interesting reads of the week

Paul Graham dropped his latest essay this week, The origins of wokeness.

The U.S. startup ecosystem is significantly outpacing the EU, creating far more high-value companies due to unified markets, abundant risk capital, and a pro-innovation culture. Challenges for Europe include fragmented markets, strict regulations, limited late-stage funding, and "brain drain." While improvements are underway, addressing these structural issues is key to unlocking the EU's startup potential.

The venture capital industry is facing a tough downturn, similar to past cycles. Many firms are shutting down, cutting fund sizes, or shifting focus to safer investments like established businesses. New tech trends like AI are bringing hope and opportunities for growth, even as challenges continue.

After Mark Zuckerberg’s announcement regarding free expression, Caryn Marooney shares her strategic communication framework, S.W.I.M., inspired by the Meta CEO's ability to frame major pivots. This “big moment” communication approach emphasizes clearly defining strategy, explaining the timing and unique advantage, outlining actionable steps, and acknowledging room for mistakes.

Last week a16z kicked off speedrun 004, the latest class of their startup program for founders on the cutting edge of tech and entertainment. Twice a year, thousands apply and around 50 teams make the cut. Those that are selected gather in-person for a three-month journey that culminates in DEMO DAY, an opportunity for founders to pitch 400+ investors on their vision to create the future. Check out the latest one.

What's happening with founders over 40

According to Justin Jackson, founders over 40 are redefining success, prioritizing meaningful work, family time, and financial stability over endless grinding. With this accumulated wisdom, they make more pragmatic decisions, leveraging experience for higher impact. Many shift toward shorter timelines, more predictable paths, or even joining larger organizations to balance ambitions with life’s evolving priorities.

Nikhil Basu Trivedi reflects on the “big tech trends” for 2025 according to 50 experts. What are they seeing in the horizon? AI tools capable of managing complex tasks for users are set to take center stage. We should also expect growth in AI-focused devices and real-time AI, making tech faster and more integrated into everyday life. Emerging consumer apps, smarter healthcare solutions, and creative AI for video and content production are also predicted to thrive.

A collection of hot takes from Bryan Johnson, Mike Solana, Packy McCormick, Cyan Banister, Arielle Zuckerberg, Alex Kolicich, Lucy Guo, Michael Mignano, Hunter Walk, JMJ, and The Technology Brothers.

💪Tech mafia of the week

Highlights:

💰 Most money raised: Namastay

🤑 Total money raised by the Visa Mafia: $2.7 billion

Weekly Tech Mafia Leaderboard


The Visa alumni has built some amazing companies. This tech mafia group takes the 39th spot on our leaderboard, with 21 companies founded and $2.7 billion raised.

PS: Are you a Visa alum interested in getting your community together to invest in the community (and earn carry/other benefits along the way)? Or are you a member of another community that you think would make for an amazing startup investment community?

Learn more about us and sign up for the waitlist here.

📌 PIN tweet of the week

💼 Who’s hiring in VC?

Looking to get into VC? Below are this week’s curated VC job openings.

Elevation Capital is looking for a VC Associate.

Alumni Ventures is looking for a VC Investor.

Playground Global is looking for a VC Associate.

Blank Ventures is looking for a Head of Operations.

InVitro Capital is looking for an IR Associate.

📠 Fun fact of the week

🙂 

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